Novartis vaccine business has now been acquired by the drug firm GlaxoSmithKline Pharmaceuticals. With this development, GlaxoSmithKline is also reported to have divested its marketed oncology portfolio to Novartis Healthcare.
In an implied statement by the company this particular transaction is expected to enhance the GSK’s vaccines portfolio especially with respect to its drug portfolios in virology, and bacterial infection. GSK is also affirm about enhancing its technological platforms to deliver a reliable supply of high quality vaccines, as a result of this acquisition.
The company has completed its transaction with Novartis Healthcare Pvt Ltd today whereby it has acquired Novartis’ vaccines business and divested its marketed oncology portfolio to Novartis India, GlaxoSmithKline Pharmaceuticals said in a filing to the BSE.
“The acquisition of the vaccines business of Novartis provides GSK with an exciting opportunity to build an even stronger, sustainable global vaccines business.” GSK Pharmaceuticals said in a statement today.
According to industry sources GSK Pharmaceuticals existing vaccines portfolio has a revenue of about Rs 300-350 crore and contributes about 15 percent of its revenue. “The company is a leader in the sale of vaccines in non government category,” an industry source said. Its existing portfolio includes vaccines for influenza, chickenpox and hepatitis A and B and will get access to Novartis’s vaccine business catering to anti rabies and meningitis vaccine, as reported by Business Standard.